Perfect storm of glitches constrains UK economy September 9, 2021 Severe shortages of raw materials, constrained labour supply and persistently high furlough rates are putting the UK economy in a vice, according to new official figures released today. The Office for National Statistic’s latest business insights survey shows almost one in three hospitality firms are finding it harder to recruit workers compared to normal times. [...]
Number of workers on furlough tumbles to lowest level since start of pandemic September 9, 2021 The number of workers on furlough has tumbled to its lowest since the onset of the Covid crisis, according to official figures published today. Data from the Treasury shows there were 1.6m people on furlough at the end of July, down 340,000 from almost two million in the previous month. However, the rate at which [...]
Exclusive: Experts weigh in on why more older people are exiting the workforce earlier September 9, 2021 The Department for Work & Pensions published a report this morning which showed that, over the past year, older people have been exiting the workforce earlier. Moreover, the employment rate of people aged 50-64 has also fallen slightly. City A.M. sought the views of six recruitment, HR and financial experts on why this is happening. Sarah Loates, [...]
Lloyd’s of London reports £1.4bn profit in first half of 2021 September 9, 2021 Lloyd’s of London returned to profit in the first half of 2021, with the help of a stronger underwriting performance, the insurer announced this morning. The commercial insurance market’s results indicate its recovery after it incurred significant losses during the pandemic last year. In the same period a year ago Lloyd’s suffered a total loss [...]
Janet Yellen: US Treasury is in danger of running out of cash in October September 9, 2021 Janet Yellen has warned the US Treasury is in danger of running out of cash in October unless Congress raises the debt ceiling, as the government walks on a tight rope to avoid a possible US default. In a letter to House Speaker Nancy Pelosi and other lawmakers yesterday, the Treasury secretary said a “specific [...]
Worker shortages persist as pool of candidates shrinks at record pace September 9, 2021 The number of workers ready to start a new job plummeted at its fastest pace on record last month, indicating the severe worker shortages that have put the UK economy in a vice are likely to persist, according to fresh figures published today. Research by accountancy firm KPMG and the Recruitment and Employment Confederation shows [...]
Record price spikes: Tough winter looms over households and energy firms September 8, 2021 The UK’s recent period of low wind output and global gas supply shortages have energy suppliers gritting their teeth for the winter to come, and maybe even the next. The country was forced to light up a coal plant at the turn of the week amid a spike in energy prices, pushing up costs to [...]
From The Vine review is the cinematic holiday we all need September 8, 2021 This remains an unpredictable time for the box office, with our collective trauma seeming to be reflected in the films we have made hits. Horrors like Candyman and A Quiet Place: Part II have thrived, while we’ve also lined up for some vicarious city destruction in Godzilla Vs Kong and Fast and Furious 9. Those [...]
Three brilliant roles to apply for this week September 8, 2021 Are you looking for a new job at the moment? It’s pretty exciting, but it can also be pretty overwhelming. People always say that looking for a job is like a full time job itself, and we couldn’t agree more. Which is why we want to help where we can. We have a brilliant job [...]
Exclusive: UK named world’s third best regulatory base, ahead of US and EU September 8, 2021 The UK is the world’s third best jurisdiction for multinational companies to base subsidiaries or ‘entities’ from a governance and regulatory standpoint, according to new research shared exclusively with City A.M. this morning. Singapore takes the top spot, followed by Australia while Kazakhstan came out as the most complex country out of over 160 jurisdictions [...]